(Reuters) – Minneapolis Federal Reserve Bank President Neel Kashkari told a town hall in Pierre, South Dakota that he does not think the Federal Reserve should raise rates unless wages and inflation start to take off, and the U.S. economy is a “long way” from that.
With wage growth slow and inflation below the Fed’s 2-percent target, “Why cool the economy down?” asked Kashkari. He dissented on the Fed’s interest-rate hikes last year, and though he does not have a vote this year his comments signal he continues to disagree with the gradual rate hikes the Fed currently plans.
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